The Architecture Market [sic] Bubble Has Popped.

The $19 million deal for Neutra’s Kaufmann House in Palm Springs has been canceled by the sellers for breach of terms.
The Rockefeller Guest House was a New York anomaly. The Farnsworth House was bought by the architecture collector. The. Collector. Andre Balasz’ Prouve is portable. After counting how many houses Michael Govan’s actually added to the LACMA collection, note that the overpriced Louis Kahn house failed to sell. The Breuer trailer-house deal barely made its reserve. Now with the Kaufmann deal unraveling.
I think we can safely say that the modernist architecture market is not, after all, a seamless extension of the art market. Somebody better tell Neutra’s son that he won’t be getting $140 million for the old office building in Silverlake. Or $3.5 million, for that matter.
Official: $19M Kaufmann House sale ‘terminated’ [via archinect]